South Korea’s housing market was feared to enter a long-term recession period as seen in Japan and the United States due to structural problems such as aging population, retiring baby boomers and low growth trend.
The Ministry of Strategy and Finance said in a report on Monday that slower growth of the country’s population and households weakened real demand for housing as places of residence, cautioning that retiring baby boomers were expected to sell large-sized homes, boosting oversupply in the local real estate market...............................................Full Article: Source